inventory mgmt system

8/7/2019 INVENTORY MGMT SYSTEM

1/10

Inventory

management system

presented by :Sumeshan Dubey

Sumit Mehta


2/10

DEFINATION

y Inventory Management System- A

set of policies and controls that monitors levels ofinventory and determines what levels should bemaintained, when stock should be replenished, howlarge orders should be Placed, carrying costs ofinventory, asset management, inventory forecasting,inventory valuation, future inventory price forecasting,physical inventory, available physical space forinventory, quality management, returns and defectivegoods and demand forecasting.


3/10

Inventory Management provides

y Up-to-date information about data processing resourcesthrough the creation and archiving of records in acentralized repository

y Financial records specific to a single component, or groupsof components.

y Component Status Indicators to identify a component asActive , Redeployed , Donated , or Terminated

y Service records for all components in the inventory.


4/10

y Reports can be generated from the Inventory ManagementSystems that would project the amount of revenue that canbe generated through the sale of surplus equipment, so that

you can project the costs associated with maintainingduplicates of critical equipment at recovery sites.

y Ensure efficient and timely identification of vital corporate

assets.

y To identify and track all data processing assets in anInventory System Repository.


5/10

ROLE OF IMSy It provides information to:

y

Efficiently manage the flow of materials

y Effectively utilize people and equipment

y Coordinate internal activities

y Communicate with customers.


6/10

Basic building blocks for IMSy Sales Forecasting or Demand Management

y Sales and Operations Planning

y Production Planning

y Material Requirements Planning


7/10

AREAS OF APPLICATIONy Retail and manufacturing sector such as

various marts,departmental stores and all the

manufacturing units where it is necessary to keep allthe records of items that are available with them.

y Medical facilities

y Millitary facilties


8/10

ADVANTAGES OF IMSy Availability of stockIt helps a seller to know that what is available in his

stocky Demand of a productHelps to determine the demand of a producty More reliableA

s operated through a computer system one can relyon ity Its easy to keep record


9/10

y While inventory management systems offerretailers and vendors many advantages, there are

some pitfalls. Because the system aims to keep abare minimum of stock in store, retailers can becaught short if an item unexpectedly becomes abig seller. Retailers traditionally kept additionalstock on hand -- known as buffer or safety stock --

to prevent that occurrence, but many havediscontinued the practice.


10/10

thanks

inventory mgmt system

Documents